Common use of Terms of Certificates Clause in Contracts

Terms of Certificates. (a) On the Closing Date the Borrower shall issue Certificates in an aggregate original principal amount equal to the Financed Amount to the Certificate Holders (or their respective nominees) in such amounts as shall be set forth in Schedule II to the Loan Agreement. Each Certificate shall bear interest on the unpaid principal amount thereof from time to time outstanding from and including the date thereof until such principal amount is paid in full. Such interest shall accrue with respect to each Interest Period at the Applicable Rate in effect for such Interest Period and shall be payable in arrears on each Interest Payment Date and on the date such Certificate is paid in full. (b) The principal of the Certificates shall be due and payable in consecutive installments as set forth in Annex A to each Certificate. (c) Each Certificate shall bear interest at the Past Due Rate on any principal thereof and, to the extent permitted by applicable law, interest and other amounts due thereunder and hereunder, not paid when due (whether at stated maturity, by acceleration or otherwise), for any period during which the same shall be overdue, payable on demand by the respective Certificate Holder given through the Indenture Trustee. (d) The Certificates shall be executed on behalf of the Borrower by one of its authorized officers. Certificates bearing the signatures of individuals who were at any time the proper officers of the Borrower shall bind the Borrower, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Certificates or did not hold such offices at the respective dates of such Certificates. No Certificates shall be issued hereunder except those provided for in Section 2.02(a) and any Certificates issued in exchange or replacement therefor pursuant to the terms of this Indenture. Each Certificate issued under this Section 2.02 shall be dated as of the Closing Date. No Certificate shall be secured by or entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Certificate a certificate of authentication in the form provided for herein executed by the Indenture Trustee by the manual signature of one of its authorized officers and such certificate upon any Certificate shall be conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder.